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Event Details

Course overview

The course is a comprehensive, interactive program providing the necessary understanding, familiarity and skills to negotiate key contracts commonly used in the oil and gas industry throughout the typical project lifecycle from the pre exploration phase exploration through to abandonment.

The course will commence with an introduction to and the development of key commercial structures utilised within the the oil and gas industry. Attendees will appreciate the attributes of various joint venture, government and project related arrangements. The key terms will be reviewed from the perspective of risk management, commercial success and alignment of purpose. In each case strategic objectives, rights and responsibilities of the various parties will be reviewed.

The program will enable participants to appreciate the different types of commercial structures throughout the supply chain such as joint ventures, strategic alliances, drilling supply, equipment leases, engineering services supply, construction arrangements, product sales agreements, joint acreage bidding agreements, unitisation agreements, production sharing arrangements, joint marketing arrangements, transportation agreements, processing arrangements, third party access arrangements and project financing arrangements. In each case examining their function and key commercial attributes. The perspectives of International Oil Company’s (IOC), National Oil Company’s (NOC), Host Governments and Contractors will be considered and particular attention will be given to the strategic objectives of counterparties, IOC / NOC relationships and the key drivers of the counterparties.

From the development and production phase participants will review the production sharing contract, typical construction contracts including engineering, procurement, construction and management contracts (EPCM) and build own operate agreements (BOO). In addition the commercial principles and key terms of unitisation agreements, joint marketing agreements, oil sales agreements, gas sales agreements, oil and gas processing agreements, gas transportation agreements, abandonment provisions and third party access agreements will be reviewed. Other important arrangements covered are floating production and offloading system lease agreements as well as project financing agreements.

The program will also include strategic alliances between oil and gas companies and service providers used in the industry to share the benefits derived from construction and operating efficiencies. Common features of alliance structures and their optimal uses, including both benefits and shortcomings will be considered.

Other commonly used commercial arrangements that affect the value of hydrocarbons and the fiscal take for the participants such as product transfer pricing will also be covered. These arrangements are particularly important in the case of LNG projects.

The program will focus considerable attention on the Joint Venture (JV) given its is the primary contractual relationship between operating oil and gas companies used in international oil and gas operations. Participants will appreciate why they are used, the different types of JV, how they are formed and negotiated, participant selection criteria, partner responsibilities, rights and liabilities, the role of the Operator and non Operator. Participants will review in detail key terms of a Association of International Petroleum Negotiators (AIPN) JV Operating Agreement (JVOA).

The various alternatives and procedures for conflict resolution will be covered for the various contractual arrangements including legal litigation and arbitration.

The program will be delivered as combination of hands on exercises, case studies and industry based scenarios. Participants will be introduced to a range of negotiation strategies that may be used to secure suitable commercial outcomes and have the opportunity to negotiate the terms of a joint bidding agreement, the important terms of JOA, a resource unitisation agreement, a floating production and offloading system lease agreement and a gas sales agreement and a third party access agreement.

The course is designed for

Project Managers

Business Developers

Exploration Managers

Commercial Managers

In house Council

Country Managers or Directors

Business Development Managers

New Ventures Managers

Personnel involved in negotiating commercial arrangements across the oil and gas development cycle

Other personnel, including non-technical, that need to improve their understanding of oil and gas contracts and commercial agreements

Course outline

Introduction key commercial structures and their development

Strategic objectives of IOC’s, NOC’s and Contractors

The balance between commercial success, alignment of purpose and risk management

Contractual regulatory trends in the Oil & Gas industry

Competition and free market issues

The changing roles of the IOC and NOC

The impact of the current oil price environment on contracting strategies

A summary of key contracts across typical project life cycle

Exploration phase joint bidding agreements

Formation and negotiation

Joint venture operating agreements (JVOA’s)

Types of Joint Ventures

Incorporated joint venture

Unincorporated joint venture

Marketing alliance

The Role of Joint Ventures in the Oil & Gas Industry

Joint venture formation considerations

Joint ventures operating principles

Role of operator

Responsibilities and liabilities

Partner selection criteria

Key elements for successful joint ventures

Negotiating and setting up joint ventures

JVOA key terms (AIPN agreement review)

Operator and non-operator rights and responsibilities

Transition through project life cycle – exploration, appraisal and development

Organiser

Esanda

Esanda is a specialist training provider serving the global upstream oil and gas industry. Our course leaders are practicing industry specialists who develop our in house courses and work with clients to build bespoke training for their staff. Our operations are supported by our UK and Australia offices.

We pride ourselves on being able to bring hundreds of man years of experience to the training sector and the positive feedback we receive from our satisfied clients.

Our courses have evolved over 20 years with a focus on Field Development Planning, which includes a strong emphasis on costing and economic analysis as well as concept selection for our clients. The range of clients includes those involved in Onshore, Offshore, Subsea, GTL, LNG and unconventional developments. This work and client training has allowed us to build strong expertise with practical and up to date knowledge of the subject areas.